It is difficult to exclude individuals from the use of public goods and services
a. True
b. False
A
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Which of the following issues will economists likely agree about?
A. The long-run achievable target rate of unemployment B. Outside of some unemployment range, too much spending causes inflation and too little causes a recession C. The relationship between the level of economic activity and inflation D. Estimates of potential income
Refer to the graph shown.
As a result of a tariff T imposed on speedboats, the price that foreign suppliers will receive probably will be:
A. P1. B. P2. C. P3. D. P4.
Over the past several years, consumers have had an increasing interest in getting a tattoo. This means that the ________ for tattoos has ________.
A) demand; increased B) quantity demanded; increased C) quantity demanded; decreased D) demand; decreased
One could argue that price ceilings should not be placed on the goods sold at the high price "Quick Stop Shop" stores for all of the following reasons except:
a. cash price is not true price b. convenience has a value c. time has a value d. the price of gasoline sold at the store is already controlled e. check out is fast at the "Quick Stop Shop"